NFTs
Exclusive: 57.8% of market participants prefer Bitcoin NFTs over Ethereum!
- Bitcoin’s dominance fell on the backs of respondents, making their preference for memecoins clear
- The AMBCrypto survey also had some interesting observations about the popularity of Bitcoin NFTs
Bitcoin [BTC] NFTs have gained a lot of traction recently. In fact, AMBCrypto exclusive search discovered that investors are now preferring Bitcoin NFTs over Ethereum NTFs. Therefore, it is worth taking a closer look at what survey respondents think about Bitcoin NFTs, the crypto target prices for the rest of 2024, as well as its other conclusions.
What is happening with BTC?
Bitcoin somewhat disappointed its investors after the market’s uptrends failed to reappear. In fact, at the time of writing, the real currency is down 2% on the weekly charts, with BTC trading just under $67,700 on the charts. Despite its tepid price action, it is interesting to note that, according to the surveyBitcoin NFTs have created a huge niche for themselves among modern investors.
Exclusive to AMBCrypto report revealed that a significant number of traders are attracted to the emerging domain of Bitcoin NFTs. According to the same, 57.8% of market participants want to invest in Bitcoin NFTs instead of Ethereum NFTs, compared to the 11.8% who think NFTs are only suitable for the Ethereum blockchain.
The AMBCrypto report also analyzed the performance of BTC ordinals, as their demand and polarity appeared higher than that of Ethereum NFTs. According to Dune Analytics’ data, the total number of BTC subscriptions is about to reach 67 million. Furthermore, his Ordinal fees amounted to US$6,829.9662 to date – a commendable number.
Memecoins above Bitcoin?
While Bitcoin may be making waves on the NFT front, not everything has been smooth sailing for the world’s largest cryptocurrency. In fact, the same can be evidenced by the decline in Bitcoin’s market dominance in recent days.
Source: Bitcoin Domain, TradingView
That’s not all like AMBCrypto report also found that investors are actually favoring memecoins over BTC. To be more precise, 53.7% of respondents preferred memecoins over Bitcoin.
To read Bitcoin (BTC) Price Prediction 2024-25
As Bitcoin traded within a tight price range on the charts, its weighted sentiment fell sharply. Soon after, bearish sentiments also struck, with the same impact on crypto price action.
If Bitcoin NFTs continue to be as popular as they are now, such popularity could help spur a rise in the crypto’s price in the coming weeks.
Source: Santíment